Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 30.48 points or 0.46% at 6642.41 at 13:48 IST. Among the components of the S&P BSE Finance index, IDBI Bank Ltd (down 11.81%), Satin Creditcare Network Ltd (down 4.99%),Reliance Capital Ltd (down 4.95%),Indostar Capital Finance Ltd (down 4.88%),Dewan Housing Finance Corporation Ltd (down 4.87%), were the top losers. Among the other losers were IIFL Wealth Management Ltd (down 3.55%), Indian Overseas Bank (down 3.27%), Punjab National Bank (down 3.08%), JSW Holdings Ltd (down 3.07%), and Pilani Investment & Industries Corporation Ltd (down 3.05%). On the other hand, Spandana Sphoorty Financial Ltd (up 7.41%), Canara Bank (up 6.45%), and Bandhan Bank Ltd (up 3.45%) moved up.
Markets watchdog Sebi on Tuesday imposed a fine of Rs 1 lakh on Reliance Capital Ltd for violation of Depositories and Participants Regulations back in 2010. As per the regulations, depository participants are restricted from delegating their function to any other person, without the prior approval of the depository. During an investigation, Sebi found that in the process of investor grievance redressal mechanism, there were certain complaints against Reliance Capital (noticee) as a depository participant. The replies to those complaints were given by Reliance Securities Ltd (RSL) in the capacity of a depository participant. The regulator conducted an inspection of Reliance Securities on August 13-14, 2012 for the duration of April 2010 to March 2012.
SBI Life bids for Reliance Cap assets Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest to December 17
Reliance Capital Ltd (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said.
Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17.
Following this, 10 new bids have come in for Reliance Capital’s assets, taking the total number of bids to 70, the sources said.
State Bank of India’s subsidiary SBI Life has also shown interest in picking up Reliance Capital’s stake in Reliance Nippon Life Insurance, they added.
Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 79.9 points or 1.15% at 6891.64 at 13:48 IST. Among the components of the S&P BSE Finance index, Dewan Housing Finance Corporation Ltd (down 4.99%), Reliance Capital Ltd (down 4.93%),AU Small Finance Bank Ltd (down 4.65%),Dolat Investments Ltd (down 4.28%),Centrum Capital Ltd (down 4.25%), were the top losers. Among the other losers were RBL Bank Ltd (down 3.76%), Central Bank of India (down 3.72%), IFCI Ltd (down 3.2%), IndusInd Bank Ltd (down 3.15%), and Union Bank of India (down 2.97%). On the other hand, JSW Holdings Ltd (up 3.87%), Cholamandalam Financial Holdings Ltd (up 1.11%), and Paisalo Digital Ltd (up 0.88%) moved up.
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